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Mortgage Valuations - beware

A mortgage valuation for is not a survey - buyers should be warned says RSPA

Mortgage Finance Gazette (MFG) has reported that the Council of the residential Property Surveyors Association (RSPA) has written to Hector Sants, chief executive of the Financial Services Authority, calling for an investigation into the advice mortgage lenders give their borrowers regarding valuations and surveys.
 
MFG state that in the letter the RSPA asks that the FSA takes urgent action to ensure that lenders take more responsibility to inform borrowers that the valuation carried out is on behalf of the lender, and is not a survey.
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